How to Get Consumers to Share Personal Data

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Consumers are understandably reluctant to share personal information, but new research suggests they may be willing to share personal information – for a price.

According to a new PwC report (“Consumer Privacy: What Are Consumers Willing to Share?”), three-fourths of consumers may be willing to share their personal information in exchange for benefits like free mobile or internet services.

People in the 18-29 age group are most willing to share personal data, but what respondents were willing to share varies greatly. Consumers are more likely to share marital history than online shopping or employment history, for example. They also want control of their data, and they want to know what a company plans to do with it. And they’re also much less likely to trust a company once it’s had a data breach.

So it may be possible to obtain personal data you really need – but be prepared to offer something of value in exchange for it. Be open about how you plan to use the data, and be sure to protect it.

Adapted from Getting Customers to Share Personal Data at Baseline Magazine.